Recon Technology (NASDAQ:RCON) Coverage Initiated by Analysts at StockNews.com

StockNews.com assumed coverage on shares of Recon Technology (NASDAQ:RCON) in a report released on Tuesday. The brokerage issued a sell rating on the oil and gas company’s stock.

Recon Technology Stock Performance

RCON opened at $2.09 on Tuesday. Recon Technology has a 12-month low of $1.26 and a 12-month high of $4.35. The stock’s 50 day moving average price is $2.35 and its two-hundred day moving average price is $2.32. The company has a quick ratio of 10.64, a current ratio of 10.67 and a debt-to-equity ratio of 0.02.

Institutional Trading of Recon Technology

An institutional investor recently bought a new position in Recon Technology stock. Belvedere Trading LLC acquired a new position in shares of Recon Technology, Ltd. (NASDAQ:RCON) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 16,807 shares of the oil and gas company’s stock, valued at approximately $48,000. Belvedere Trading LLC owned 0.21% of Recon Technology as of its most recent filing with the Securities and Exchange Commission. 9.47% of the stock is owned by institutional investors and hedge funds.

Recon Technology Company Profile

Recon Technology, Ltd. provides hardware, software, and on-site services to companies in the petroleum mining and extraction industry in the People’s Republic of China. The company offers equipment, tools, and other components and parts related to oilfield production and other energy industries; and develops and sells industrial automation control and information solutions.